Tag: Arun Jaitley

New Delhi: Finance Minister Arun Jaitley on Tuesday said demonetisation and the Goods and Services Tax (GST) led to higher formalisation of economy resulting in higher direct tax revenue and greater number of income tax return filings. “The impact of demonetisation and GST implementation has resulted into higher formalisation of economy. This is further substantiated […]

New Delhi: As the country struggles to bring back the main accused of multi-crore fraud committed in Punjab National Bank — diamond trader Nirav Modi and his uncle Mehul Choksi owner of Gitanjali Gems — the Cabinet on Thursday approved Fugitive Economic Offenders Bill 2018, which would facilitate action against such offenders. Finance Minister Arun […]

New Delhi: Sounding a note of caution on the inflationary impact of rising global crude oil prices ahead of the RBI’s final monetary policy review of the fiscal, Finance Minister Arun Jaitley on Monday said that lowering interest rates is a decision entirely in the domain of banks. In an interview to a private channel […]

New Delhi: In a rebuttal of the criticism of Budget 2018-19 pandering to the farm sector in a pre-election year at the expense of the middle class and the corporate sector, Finance Minister Arun Jaitley on Friday showed how his latest budget exercise is actually designed to boost overall economic growth with the help of […]

New Delhi: A “major” initiative to boost research with a budget of Rs 1 lakh crore in four years, Eklayva Model boarding schools in tribal majority areas, and Prime Minister Fellowship for B.Techs, were the highlights in the education sector of the Budget proposals presented by Finance Minister Arun Jaitley on Thursday. “To set-up investment […]

New Delhi: The Economic Survey tabled by Finance Minister Arun Jaitley in the Parliament on Monday had a pink cover as it lay “special emphasis” on gender. A statement issued by the Ministry of Finance said the survey takes into account that gender equality is an “inherently multi-dimensional issue”. Assessments have been made based on […]

New Delhi: Finance Minister Arun Jaitley on Sunday said that most political parties are “fairly satisfied” with the present system of political funding and would not like to move on to a transparent system such as electoral bonds. “India has not been able to evolve a transparent political funding system…Most political groups seem fairly satisfied […]

New Delhi: Finance Minister Arun Jaitley said on Saturday the government has been creating “instrumentalities” like providing agricultural inputs at lower cost and making cheap credit available to farmers so as to double their income. Speaking at the opening ceremony of Asia-Pacific Rural and Agricultural Credit Forum here, Jaitley said the government is trying to […]

New Delhi: Union Finance Minister Arun Jaitley today said that US credit rating agency Moody’s upgrading India’s sovereign rating was an extremely encouraging international recognition of the structural reforms undertaken by the government including demonetisation, GST and recapitalization of public sector banks. “It is a belated recognition of all the positive steps taken in the last […]

New Delhi: Trying to grapple with the economic slowdown, the government on Thursday appeared to keep the option of a stimulus package open, even as it is set to hike the capital expenditure by PSUs by Rs 25,000 crore over and above the budgeted Rs 3.85 lakh crore for the current fiscal. This emerged after […]

New Delhi: Acknowledging that private investment was short in coming, Finance Minister Arun Jaitley on Thursday said that the government will come out with “appropriate action” at the right time to boost the economy. “From day one, this is a proactive government. We are analysing the economic indicators and appropriate action will be taken at […]

New Delhi: The Union Cabinet on Wednesday decided that the Centre would surrender its 50 per cent stake in three ITDC hotels to the respective state governments, which would now have full authority over the redevelopment of these properties. “The Centre is withdrawing its 50 per cent ownership stake in these ITDC properties and hand them […]

New Delhi: Defending the jump in India’s wholesale price-indexed (WPI) inflation in August to 3.24 per cent, nearly double that of July, Union Finance Minister Arun Jaitley on Thursday said it was well below the target of 4 per cent. “During monsoon, there is a spike in vegetable prices. It is usually the highest level […]

New Delhi: Finance Minister Arun Jaitley on Wednesday said he was sure Aadhaar will stand the test of constitutionality as the Supreme Court’s decision on the legislation is still pending. “The legislation has been passed and I’m sure it will stand the test of constitutionality. Even while upholding the idea of privacy as an important constitutional […]

New Delhi: Finance Minister Arun Jaitley on Thursday said that he expected convergence of two Goods and Services Tax (GST) rates into one in the coming days, though ruling out a single rate of taxation under the new indirect tax regime. “I see two standard rates converging into one in future. The GST Council may decide […]